Wu Mart Invests 400 Million for Expansion

Write: Nodin [2011-05-20]

Wu Mart will invest 400 million RMB to open 5-12 supermarkets and 50 convenience stores this year, increasing its shopping area by 15%, said Xu Ying, executive director of Wu Mart, in press release yesterday.

The sales of Wu Mart will also increase by 15% in the future three years, she estimated.

The growth rate of gross profit will increase and that of net profit will be almost the same as last year, she added. The same-store sales are also likely to increase as the first two months have witnessed better same-period performance than last year.